ššš Urgent Bitcoin Update ššš
š Attention everyone, pivotal developments are unfolding tonight.
š Tonight marks a critical juncture for Bitcoin, with the closure of both the weekly and monthly candles. This moment is historic as Bitcoin sees eight consecutive months of bullish candle closings š.
š On March 24th, amidst Bitcoin's surge from 62k to 70k, I forecasted its sustenance above 70k until the monthly candle closure, which indeed materialized as predicted.
š Current Update:
With the weekly and monthly closings imminent, Bitcoin's trajectory could push it beyond the 71k mark.
š Despite a stable week around the 70k mark, expect heightened volatility henceforth.
š A recent dip to 62k coincided with significant outflows from ETFs, amounting to billions of dollars. Presently, Bitcoin has rebounded above 70k, with ETF outflows tapering to a mere few million dollars, signaling optimism.
š To summarize, Bitcoin's ascent above 71k before tonight's closure is plausible, ushering in increased volatility post the prolonged stability following the monthly candle closing.
